Govt. allows online direct sales to overseas buyers

Tuesday, 23 October 2018 00:00 - - {{hitsCtrl.values.hits}}

The Finance Ministry yesterday said a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct e-commerce transactions with overseas customers has been established as per a Budget 2018 proposal.

Sri Lankan customers do enjoy this B2C e-commerce facility via eBay and other trading platforms but not vice versa. Accordingly, hereafter companies or exporters in Sri Lanka can send goods in any number worth maximum $ 3,000 each without submitting CUSDEC application to Sri Lanka Customs.

However, at the end of the particular month the exporter has to submit one CUSDEC application to Sri Lanka Customs covering all transactions, the statement released by the Finance Ministry said.

The Regulation issued by the Ministry of Finance will govern any approved online trading platform done by B2C operations by a Board of Investment approved hub enterprise, B2C operations by a Board of Investment approved enterprise, B2C operations by any other registered business enterprise and B2C operations by any individual registered exporter.